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Ongoing Solana attack targets thousands of crypto wallets, costing users more than $5 million so far. Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including Solana’sNearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana’s sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic’s estimate is slightly higher at 7,936 wallets. Solana’s sol token, one of the largest cryptocurrencies after bitcoin and ether, fell about 8% in the first two hours after the hack was initially detected, according to data from CoinMarketCap. It’s currently down about 1%, while trading volume is up about 105% in the last 24 hours. Starting Tuesday evening, multiple users began reporting that assets held in “hot” wallets — that is, internet-connected addresses, including Phantom, Slope and Trust Wallet — had been emptied of funds. sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic’s estimate is slightly higher at 7,936 wallets. Solana has experienced a brutal hack on several of its most popular applications, draining millions of dollars in users’ funds and Altcoins. In today’s VOC Daily News Wrap, we point out what you currently don’t know about the hack. We will also cover WHY Michael Saylor steps down as MicroStrategy CEO and what that means for Bitcoin and its price. Don’t miss this show!!

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Nomad crypto bridge loses $200 million in a ‘chaotic’ hack. After a few quiet months, it’s happened again: another blockchain bridge hack with losses in the hundreds of millions of dollars. Nomad, a cryptocurrency bridge that lets users swap tokens between blockchains, is the latest to be hit after a frenzied attack on Monday, which left almost $200 million of its funds drained. The hack was acknowledged by the Nomad project’s official Twitter account on Monday, August 1st, initially as an “incident” that was being investigated. In a further statement released early Tuesday morning, Nomad said that the team was “working around the clock to address the situation” and had also notified law enforcement. In another Twitter thread, samczsun — a researcher at the crypto and Web3 investment firm Paradigm — explained that the exploit was made possible by a misconfiguration of the project’s main smart contract that allowed anyone with a basic understanding of the code to authorize withdrawals to themselves. “This is why the hack was so chaotic,” samczsun wrote. “[Y]ou didn’t need to know about Solidity or Merkle Trees or anything like that. All you had to do was find a transaction that worked, find/replace the other person’s address with yours, and then re-broadcast it.” A further post-mortem from blockchain security auditing firm CertiK noted that this dynamic created its own momentum, where people who saw funds being stolen using the above method were able to substitute their own addresses to replicate the attack. This led to what one Twitter user described as “the first decentralized crowd-looting of a 9-figure bridge in history.” In a more optimistic take, Nassim Eddequiouaq, crypto CISO at Andreessen Horowitz, suggested the funds could be reclaimed from the “whitehats that drained preventively,” though the identities of those that obtained the funds from Nomad appear to be largely unknown.

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Crypto market continued to rally on Friday as traders believed that the worst over the inflation is now done and the markets will see a quick recovery. Bitcoin topped the $24,000 level, despite the fact that US GDP contracted more than expected. Risk appetite is roaring back but experts believe that it is too quick to jump to any conclusion. Barring the US dollar-pegged stablecoins, all other top crypto tokens were trading higher. Solana rallied over 9 per cent, whereas Polygon and Uniswap rose over 8 per cent each. Avalanche rallied 7 per cent, whereas Dogecoin added 6 per cent. The global cryptocurrency market cap was trading sharply higher at the $1.10 trillion mark, rising more than 4 per cent in the last 24 hours. However, the total trading volume jumped almost 16 per cent, close to $107.69 billion. Bitcoin and Ethereum rose for another day. Bitcoin topped the $24,000 level in response to the US central bank’s latest interest rate hike and its support is now at $21,000, while resistance is $25,000, said Edul Patel, CEO & co-founder, Mudrex.

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Hackers stole over 4295 Ethereum (ETH), worth more than $4.7 million, from decentralized exchange Uniswap LPs via a phishing attack on July 11, between around 14:00 UTC and 23:00 UTC. Binance CEO Changpeng ‘CZ’ Zhao noticed the attack and extended a helping hand to stop it. Uniswap. Around six hours later, CZ also posted a Tweet notifying Uniswap of the attack. Zhao said that the Binance threat intel noticed the malicious activity, and the hackers had already stolen over 4295 ETH. Zhao extended a helping hand, asking the community to reach out to Uniswap. Within half an hour, the attack was stopped. Zhao posted another Tweet sharing a chat screen to notify the community.

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Krutika Adani Author

Krutika is an experienced Crypto News writer and Technical analyst. With over 3 years of extensive crypto knowledge, she has written on various subjects, including Price analysis, Whitepapers, Metaverse, and other crypto-related topics.

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Here watch the latest cryptocurrency news, updates, values, prices, and more related to Bitcoin, Ethereum, Dogecoin, DeFi and NFTs with Voice of Crypto. Most major cryptos traded well in the green zone on 14 July, 2022. According to Coinmarketcap, the global crypto market cap recovered by 2.3% to $892 billion. Latest numbers suggest, total cryptocurrency trading volume in the last day is at $75.51 Billion. The total volume in DeFi is currently $6.58B, 8.72% of the total crypto market 24-hour volume. The volume of all stable coins is now $67.97B, which is 90.02% of the total crypto market 24-hour volume. Most major coins were trading in the green today despite the sky high inflations numbers that the US released yesterday. Bitcoin was trading 2% up at around $20,000 while the alt coin king Ethereum was trading near $1100, up 4% from yesterday. But apart from these flagship coins, there were several other crypto prices which gained a much more in value in the same timeframe. Polygon’s MATIC jumped the highest, rallying over 15% to touch $0.63 value. Along with that, Curve DAO (CRV), Avalanche (AVAX) and Uniswap (UNI) recorded gains of over 11.5%, 11.8% and 7.5% respectively. Thanks to Bitcoin’s rise, the broad base of the crypto market saw gains.

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Varuni Trivedi Author

Varuni is an experienced crypto analyst and journalist with a keen interest in the Web3, blockchain, metaverse and NFT space. She’s currently heading the Voice of Crypto team as the Editor-in-Chief and believes that decentralized web is the way to go.

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